Heron Bay Capital Management Has $2.56 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Heron Bay Capital Management lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,668 shares of the company’s stock after selling 5,279 shares during the period. Heron Bay Capital Management’s holdings in Molson Coors Beverage were worth $2,560,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC boosted its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares during the last quarter. Pallas Capital Advisors LLC raised its position in shares of Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after purchasing an additional 202 shares during the period. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Finally, Morgan Stanley lifted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.67.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $58.72 on Friday. The stock has a market capitalization of $11.90 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The business’s 50 day simple moving average is $57.56 and its two-hundred day simple moving average is $57.54. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.20%. Molson Coors Beverage’s payout ratio is 35.14%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.